The Challenge
The client wanted to launch a new-age on-demand insurance product under its Motor line of business. Since their existing core insurance system was not supporting on-demand insurance products, the client was looking for a solution that could support on-demand and other such non-conventional insurance products.
The Solution
The highlights of the solution implemented was as follows:-
- APIsLive Platform setup and hosted on AWS Cloud provided by iNube
- On-demand insurance product configured on the platform in 3 days’ time including rules for enrolment of vehicle and daily calculation of premium
- APIs for premium calculation, policy issuance, endorsements, cancellation and claim intimation generated from APIsLive platform.
- APIs generated consumed by B2C portal and a large insurance aggregator
- Reports and dashboard configured in 2 days time.
- MS Excel based Premium Register and Claim Register enabled for download from APIsLive.
- Product goes-live in 6 weeks’ time after integration and UAT.
- Monthly SaaS billing for the product started after go-live, support and cloud infrastructure included as part of SaaS fee.
Value Delivered
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